The Brandywine Trust Co. Holds Position in Martin Marietta Materials, Inc. (MLM)

The Brandywine Trust Co. Holds Position in Martin Marietta Materials, Inc. (MLM)

Brandywine Trust Co. maintained its stake in shares of Martin Marietta Materials, Inc. (NYSE:MLM) during the third quarter, Holdings Channel reports. The fund owned 2,400 shares of the company’s stock at the end of the third quarter. Martin Marietta Materials accounts for approximately 0.3% of Brandywine Trust Co.’s holdings, making the stock its 18th largest position. Brandywine Trust Co.’s holdings in Martin Marietta Materials were worth $430,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Carroll Financial Associates Inc. raised its stake in shares of Martin Marietta Materials by 1.4% in the third quarter. Carroll Financial Associates Inc. now owns 750 shares of the company’s stock worth $134,000 after buying an additional 10 shares in the last quarter. Conning Inc. raised its stake in shares of Martin Marietta Materials by 0.6% in the third quarter. Conning Inc. now owns 1,770 shares of the company’s stock worth $317,000 after buying an additional 10 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in shares of Martin Marietta Materials by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,550 shares of the company’s stock worth $636,000 after buying an additional 10 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Martin Marietta Materials by 1.5% in the second quarter. Pacer Advisors Inc. now owns 1,118 shares of the company’s stock worth $215,000 after buying an additional 17 shares in the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in shares of Martin Marietta Materials by 0.4% in the second quarter. Douglas Lane & Associates LLC now owns 4,532 shares of the company’s stock worth $870,000 after buying an additional 20 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.

Martin Marietta Materials, Inc. (NYSE:MLM) traded up 2.50% on Wednesday, reaching $225.36. The company had a trading volume of 622,901 shares. The stock’s 50 day moving average price is $223.66 and its 200-day moving average price is $199.96. The stock has a market capitalization of $14.30 billion, a PE ratio of 35.56 and a beta of 1.43. Martin Marietta Materials, Inc. has a 12-month low of $108.31 and a 12-month high of $236.41.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, November 1st. The company reported $2.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.57 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Martin Marietta Materials had a return on equity of 9.95% and a net margin of 11.03%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.04 EPS. Equities analysts expect that Martin Marietta Materials, Inc. will post $7.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 1st were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 29th. Martin Marietta Materials’s dividend payout ratio (DPR) is 26.50%.

A number of equities analysts have recently weighed in on MLM shares. Zacks Investment Research downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. SunTrust Banks, Inc. upgraded Martin Marietta Materials from a “hold” rating to a “buy” rating and set a $206.00 target price on the stock in a research note on Wednesday, October 26th. Bank of America Corporation downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 16th. They noted that the move was a valuation call. DA Davidson reiterated a “hold” rating and issued a $210.00 price objective on shares of Martin Marietta Materials in a research note on Sunday, October 9th. Finally, Goldman Sachs Group, Inc. (The) downgraded Martin Marietta Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $210.00 to $202.00 in a research note on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Martin Marietta Materials has an average rating of “Hold” and an average target price of $203.43.

In related news, CFO Anne H. Lloyd sold 498 shares of Martin Marietta Materials stock in a transaction on Friday, December 9th. The shares were sold at an average price of $229.18, for a total transaction of $114,131.64. Following the transaction, the chief financial officer now owns 56,264 shares in the company, valued at approximately $12,894,583.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman C Howard Nye sold 8,691 shares of Martin Marietta Materials stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $224.68, for a total transaction of $1,952,693.88. Following the transaction, the chairman now owns 120,406 shares in the company, valued at approximately $27,052,820.08. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

About Martin Marietta Materials

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

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